0
1 011
"Equities could be in for a correction amid a possible rate hike by the Federal Reserve next month. The next six or seven weeks are going to be very rough," the well-known Wharton School finance professor Jeremy Siegel told to CNBC. The reasons are the following:
- September rate hike;
- weaker corporate earnings;
- oil prices falling;
- strong dollar;
- seasonal weakness in late August and September.
Jeremy Siegel is expecting the nice rally in the fourth quarter once rate hike is out the way for example: he calls for Dow Jones Industrial Average to hit 20,000 with difficulties by year-end.